Pink Floyd agrees deal to sell music rights to Sony for $400mn

For almost $400 million, the British rock group Pink Floyd has agreed to sell the rights to their extensive

discography, which includes classics like “Wish You Were Here” and “Money.”

According to two persons with knowledge of the situation, the agreement includes Pink Floyd’s recorded music,

ending the fate of one of the most valuable assets amid a period of high demand for vintage rock music sales.

One person went on to say that the label will get the rights to products and spin-offs like TV shows and movies

because the agreements also encompass the band name and the artists’ “likeness.”

Both the songwriting and the recording, or master copy, are protected by separate sets of copyrights. According to

those acquainted with the situation, Pink Floyd has agreed to sell their recorded rights but not the songwriting.

This week’s agreement will put an end to years of controversy and infighting among band members over the specifics

of the transaction.

The agreement is the most recent in a string of purchases of “heritage” performers by BY Sony, which this year also

agreed to pay almost $1 billion to acquire some of the rights to the British rock group Queen.

Another Brick in the Wall is one of Pink Floyd’s hits, making them one of the best-selling bands of all time. Following

previous deals made by Bruce Springsteen, Bob Dylan, and others, their music was among the last well-known

libraries up for grabs. Sony also purchased the rights to Dylan and Springsteen.

However, disagreements among band members regarding the tax arrangement of the contract and contentious

remarks made by bassist Roger Waters had caused the group’s possible compensation to be postponed for at least

two years.

A 2022 selling effort that had drawn buyers like Warner Music, BMG, and Hipgnosis was postponed.

For over 40 years, Waters and his bandmate David Gilmour have been at conflict, which had previously threatened

the band’s ability to make money off of their life’s work. Nick Mason, the band’s drummer, is the other surviving

member.

Gilmour and Sony chose not to comment. We couldn’t reach Waters for comment.

Thanks to streaming platforms and the usage of their music in films and television series, heritage musicians are still

well-liked by younger, new audiences. Like other record labels, Sony aims to enhance their music libraries by

entering into licensing deals for games, streaming services, and other media.

Even if music library prices have decreased from their peak in 2021 and 2022, investors continue to have a high

demand for highly sought-after commodities like Pink Floyd. In July, Apollo, a private equity firm, agreed to provide

Sony with up to $700 million to support music transactions.